91-9-111 - Power of court. - Mississippi Statutes

§ 91-9-111. Power of court.
 

This article does not affect the power of a court of competent jurisdiction, for cause shown and upon petition of the trustee or affected beneficiary and upon appropriate notice to the affected parties, to relieve a trustee from any restrictions on his power that would otherwise be placed upon him by the trust or by this article. 
 

If the duty of the trustee and his individual interest, or his interest as trustee of another trust, conflict in the exercise of a trust power, the power may be exercised only by court authorization (except as provided in Section 91-9-107(3)(a), (d), (f), (r), and (x) upon petition of the trustee. Under this section, personal profit or advantage to an affiliated or subsidiary company or association is profit to any corporate trustee. 
 

Sources: Codes, 1942, § 672-125; Laws,  1966, ch. 372, § 5, eff from and after June 30, 1966.